A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Extended Stay America from a buy rating to a hold rating in a research report on Friday, March 3rd. Barclays PLC set a $22.00 target price on Extended Stay America and gave the stock a buy rating in a research report on Tuesday, February 14th. Finally, Stifel Nicolaus reissued a buy rating and set a $18.50 target price on shares of Extended Stay America in a research report on Tuesday, April 11th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $18.11.
Extended Stay America (NYSE:STAY) traded up 1.08% during mid-day trading on Friday, reaching $17.81. The company’s stock had a trading volume of 1,710,927 shares. The firm has a market capitalization of $3.46 billion, a P/E ratio of 46.50 and a beta of 1.00. Extended Stay America has a 52 week low of $13.00 and a 52 week high of $18.65. The firm’s 50 day moving average price is $17.22 and its 200 day moving average price is $16.45.
Extended Stay America (NYSE:STAY) last released its earnings results on Thursday, April 27th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Extended Stay America had a return on equity of 13.15% and a net margin of 9.45%. The business had revenue of $291 million for the quarter, compared to the consensus estimate of $290.20 million. During the same period last year, the business earned $0.13 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Extended Stay America will post $1.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, May 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.77%. This is a boost from Extended Stay America’s previous quarterly dividend of $0.19. Extended Stay America’s payout ratio is 128.81%.
In other news, major shareholder Paulson & Co. Inc. sold 10,250,000 shares of Extended Stay America stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $17.23, for a total value of $176,607,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas Gerard Geoga bought 15,000 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was purchased at an average price of $16.46 per share, with a total value of $246,900.00. Following the purchase, the director now directly owns 126,408 shares of the company’s stock, valued at approximately $2,080,675.68. The disclosure for this purchase can be found here. Insiders own 0.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Peregrine Capital Management LLC bought a new position in Extended Stay America during the third quarter valued at $19,779,000. LMR Partners LLP bought a new position in Extended Stay America during the third quarter valued at $2,840,000. Monashee Investment Management LLC bought a new position in Extended Stay America during the third quarter valued at $4,310,000. New York State Common Retirement Fund boosted its position in Extended Stay America by 10.4% in the third quarter. New York State Common Retirement Fund now owns 183,663 shares of the company’s stock valued at $2,608,000 after buying an additional 17,263 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Extended Stay America by 492.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,552 shares of the company’s stock valued at $263,000 after buying an additional 15,422 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.
About Extended Stay America
Extended Stay America, Inc is a owner/operator of company-branded hotels in North America. The Company operates in the extended stay lodging industry. The Company owns and operates approximately 700 hotel properties consisting of approximately 75,900 rooms located in 44 states across the United States of America and in Canada.
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